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MARKETS LIVE BLOG:

STOCK FUTURES DIG OUT OF ISRAEL STRIKE-FUELLED TUMBLE

Shares of Netflix, the first of the megacap techs to report, slide in pre-market trading

Today’s Research Reports on Stocks to Watch: ON Semiconductor and Amkor Technology

ACCESSWIRE

NEW YORK, NY / ACCESSWIRE / May 29, 2018 / Shares of ON Semiconductor were up in Friday trading as the company was named on Fortune 500 as one of America’s largest company. Shares of Amkor Technology also closed in green after the company reported first quarter earnings.

RDI Initiates Coverage on:

ON Semiconductor Corporation
https://rdinvesting.com/news/?ticker=ON

Amkor Technology, Inc.
https://rdinvesting.com/news/?ticker=AMKR

Shares of ON Semiconductor went up 3.32 percent to close at 25.85, after the semiconductor company has been recognized on the Fortune 500 list of America’s largest company by revenue for the first time. The company has been given rank no. 492 on the list of 500 largest companies. "Being recognized on the FORTUNE 500 is a testament to our entire global team and the partnerships we have cultivated with customers and suppliers around the world," said Keith Jackson, president and CEO of ON Semiconductor. "We have transformed the nature of our business, and customers are increasingly relying on us as a key provider of enabling technologies for emerging and disruptive applications." Over the years, the company has grown significantly, organically as well as through mergers and acquisitions. The company has executed about 50 large financial transactions, providing the company with more than $16 billion in critical funding and financings. This has given ON Semiconductor support to grow despite several market swings in the past 19 years. The growth enabled the company to establish an extensive intellectual property portfolio and capability to compete in a dynamic market.

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Access RDI's ON Semiconductor Corporation Research Report at:
https://rdinvesting.com/news/?ticker=ON

Amkor's stock was up 4.79 percent to close at 9.18 after it announced first quarter revenue growth. The company reported revenue of $1,025 million, growth of 14% yoy. This was also slightly better than the analyst expectation of $1,020 million. The company reported first-quarter 2018 adjusted earnings of 4 cents per share, which missed earnings estimate by a penny. Steve Kelley, Amkor's president and chief executive officer said, "We expect second quarter 2018 revenues to be around $1.03 billion, up 2% year-on-year. The smartphone market is expected to remain somewhat muted in Q2, while demand in our other end markets is solid". EBITDA at $175 million was also a growth of 17.45% compared to same period last year. "Operating margin, net income and EBITDA all showed solid gains year-on-year," said Megan Faust, Amkor's corporate vice president and chief financial officer. "Profitability improved due to healthy sales growth, despite an unfavorable foreign currency impact of 120 bps on gross margin compared to Q1 2017."

Access RDI's Amkor Technology, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=AMKR

Our Actionable Research on ON Semiconductor Corporation (NASDAQ: ON) and Amkor Technology, Inc. (NASDAQ: AMKR) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com